Singapore-based e-commerce company 65daigou has raised $20m in series B capital from backers including IDG Capital, a VC affiliate of media company IDG, and rebranded to EZbuy, E27 reported today.
Private equity fund Vision Knight Capital led the round, which also featured venture firm China Growth Capital (CGC). IDG Capital and CGC had previously provided an undisclosed amount of series A funding for 65daigou in April 2015, according to Tech in Asia.
Founded in 2010, EZbuy sells a range of products including clothes, electronics, toys and homeware online. The company, which operates in Singapore, Australia, Malaysia, Thailand and Indonesia, claims to have delivered more than five million packages.
The funding will support the rebranding process and the strengthening of the company’s technology as it looks to expand across Southeast Asia.